Overview
- Puma reported a €643.6 million net loss for 2025, its largest on record, as revenue fell 13.1% to about €7.3 billion.
- The company canceled its 2025 dividend following the sharp downturn.
- Guidance for 2026 calls for an operating loss of €50–150 million and a low to mid single-digit revenue decline.
- CEO Arthur Hoeld is executing a three-year reset that narrows product ranges, reduces inventories, closes unprofitable stores, expands direct-to-consumer, and sells excess goods via outlets and selected partners, with earlier workforce cuts of about 900 roles.
- Anta Sports bought roughly 29% from the Pinault family to become Puma’s largest shareholder, a move the company says will pressure China sales in the short term due to differing distribution models.